Genesis Morocco: Profit jumps for wind turbine maker Vestas

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Genesis Morocco

Project Genesis is a strategic sustainable development framework for Morocco to translate from being a net importer of energy and a country facing water shortage issues, into the number one producer both of clean renewable energy and water in the region.

Tuesday, October 27, 2009    <<Home

Profit jumps for wind turbine maker Vestas

Portland Business Journal

Wind turbine manufacturer Vestas A/S reported a 70 percent jump in third quarter profit Tuesday.

The Danish wind energy giant, which has its North America headquarters in Portland, said third-quarter shipments of wind turbines increased 17 percent.

For the quarter, the company earned 165 million euros ($245 million), or 0.8 euros per share ($1.19), on 1.8 billion euros in revenue ($2.7 billion).

In the same quarter last year, the company earned 97 million euros ($144 million), or 0.5 euros per share (74 cents), on 1.76 billion euros ($2.6 billion).

Vestas Americas employs about 1,400 people throughout the U.S. and Canada, including 300 in Portland.

Shares (Copenhagen Stock Exchange: VWS) were up 7 percent to 357.75 kroner ($71.84). They have a 52-week range between 180 kroner ($36.15) and 698 kroner ($140.17).

//Personal notes : Vestas, rates buy.